Is a 73 Mach 1 Resotration Worth It?

[Studdley]

I have a 73 Mach 1 that I picked up for 1000 bucks with a title and have begun work on it, though the cost of it is scaring me. The guy who's helping guide the process is telling me that the car will be worth 25k when it's finished and says it's gonna take around 18k to get it there. There has already been a new doghouse welded in along with new floors and some other minor rust stuff. The car is not numbers matching, though the motor is the correct one (302w). It's a 3 speed stick and has the pale yellow color, factory ps pb and ac. It has the deluxe tan interior, though it's going to need some love. Do you all think it's really possible for the car to pull 25k when it's finished? Any thoughts are appreciated.

 

[jeff8877]

NO...

Here is my take and this is just my opinion based on what I have seen over many years with these cars. This car when done is more like a $15,000 depending on how nicely it is done. The fact that it is not original, it has a 302 vs 351, has a 3 speed vs a 4 speed or automatic, has had a fair amount of metal work, brown vs black interior etc leads me to this conclusion. Interested in what others think.

 

[rvrtrash]

I had a Q code/C6 auto '73 Mach 1 that I bought for $1,000 and put another $25K  in to, doing most of the work myself. It was nice when it was done, relatively low mileage, loaded with options like fold down rear seat, air, rear window defogger, tilt wheel, AM/FM stereo, deluxe interior, etc., etc., and had all original sheet metal. It sold for about $23K, finally, to a guy that had one the same color but not a Q code when he was younger. That was about 4 years ago. I think $18K to restore is either optimistic, unrealistic, or you're going to skip over some items. I think $15K value when done is probably close, since it's a 302/3 speed with significant metal work. Unless you're restoring it for the love of the hobby, I'd sell it and buy a completed car and spend the $10K you'll save on a nice '71-73 Mustang coupe.

Steve

 

[Carolina_Mountain_Mustangs]

Doing a restore on a 302 in 71-73 is like restoring a 6 cylinder in a 65. No you cannot make a profit and not numbers matching takes 50% away to a collector and nobody collects 302.

Remember the buyers that want these cars are dying off. The next generation cares nothing about them, part of history.

Harsh and blunt but the truth.

 

[Studdley]

Thank you all, that's what I was figuring, but I wanted to hear it come out of someone else's mouth.

 

[donkost]

Just curious- is the $18K or a good part of it going to the guy who says it will be worth $25K when completed? lol Really the only models that would support a profit on a full restoration are the '71 Boss 351, or any '71 models with the 429 CJ or 429 SCJ (including Mach 1, convertible, etc.). Possibly the '72 R code, although it is less well-known. And the amount of profit would vary based on the market at the time of sale- seems a bit soft right now. Even the Q code models are possibly a break even or slight loss to the person spending the $$$ for a full restoration. There are of course many factors such as can the owner perform first class welding and metal work himself or is everything farmed out. Also is the drivetrain numbers-matching or not, do the options match the Marti report, and so forth. If none of these factors are met, it is best to just purchase the best quality already-restored or survivor car that you can afford, and let others take the loss. Of course there are people with no intention of selling who would spend a fortune for a restoration on a car with a value they know won't support the cost of restoring it. This can be for sentimental reasons or love of the hobby, things like that. This will probably always be the case with the '71 to '73 models. The '70 and earlier models with desirable body styles and drivetrains will always bring more money. Look at values for a '69 Mach 1 with 428 versus a '71 Mach 1 with 429, and I don't think that price difference will really ever go away.

 

[NOT A T5]

It's only a 302 Windsor...NOW that's kind of biased! Aren't we all on here for the love of 71,72 and 73 MUSTANGS, regardless of engine size?   :huh:

 

[Pegleg]

When your first thought is am i going to make money then your love of the owning the car is questionable. Buy a car because you love that particular car then money wont even be part of the equation. Anyone who loves their hobby gets payback from the shear enjoyment of their hobby

 

[Bill73Ragtop]

It's all about what brings you happiness. If you were a sports fan and purchasing season tickets, paraphernalia, etc you could spent thousands each year to attend events and you will only have the memories.

Spend that $$ on the car and you will have memories and an actual ride to enjoy for a long as you wish to keep it.

 

[Stanglover]

For me personally, I would not spend money on a 73 to restore it, but I would make it into a resto mod with 71-2 front end, 429/460 and a 6 speed manual, or not, maybe something else. Non the less ALL 71-73's are worth keeping on the road in some form that pleases the owner.

Without going into too much detail, the car I bought in 2008 was in the 15-16K region and that car was in amazing condition, numbers matching and apart from a surface paint job, was pretty much all original. So then I got to start redoing "stuff". The motor needed a rebuild at 85K miles. So I did the gearbox at the same time, then I put in a 3 core rad and then I decided to strip it and repaint it completely and then I...…….. You get the idea. So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby" I enjoy it and likely would not sell it unless it was for that illusive Grabber Lime M, R or J code. Then if I were lucky I might get that 25K. Usually it works out to about 50 cents on the dollar return and that's if you're lucky!!!

Geoff.

 

[Pegleg]

So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby" I enjoy it and likely would not sell it unless it was for that illusive Grabber Lime M, R or J code.

Geoff.

I love my 71 Grande. It just has a 2V 351C in it but it will be grabber lime again one day.My favourite colour on the 71-73 is grabber lime.

If i was to tackle another big full on restoration it would have a 1955-57 Thunderbird. Preferably in red.

I was tempted to buy this one for the shell(note the Mustang in the background)

https://www.ebay.com/itm/1955-Ford-Thunderbird/392250561796?hash=item5b53f49504:g:GyMAAOSw3qVcaFeS

and this one for the motor

https://www.ebay.com/itm/1956-Ford-Thunderbird/222944574950?hash=item33e8883de6:g:XCQAAOSwU8xa33Pj

 

[Stanglover]

So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby" I enjoy it and likely would not sell it unless it was for that illusive Grabber Lime M, R or J code.

Geoff.

I love my 71 Grandé. It just has a 2V 351C in it but it will be grabber lime again one day.My favourite colour on the 71-73 is grabber lime.

If i was to tackle another big full on restoration it would have a 1955-57 Thunderbird. Preferably in red.

I was tempted to buy this one for the shell(note the Mustang in the background)

https://www.ebay.com/itm/1955-Ford-Thunderbird/392250561796?hash=item5b53f49504:g:GyMAAOSw3qVcaFeS

and this one for the motor

https://www.ebay.com/itm/1956-Ford-Thunderbird/222944574950?hash=item33e8883de6:g:XCQAAOSwU8xa33Pj

Steve, so what's stopping you? It's only money!! I know, yeah but!!!

 

[Pegleg]

So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby" I enjoy it and likely would not sell it unless it was for that illusive Grabber Lime M, R or J code.

Geoff.

I love my 71 Grandé. It just has a 2V 351C in it but it will be grabber lime again one day.My favourite colour on the 71-73 is grabber lime.

If i was to tackle another big full on restoration it would have a 1955-57 Thunderbird. Preferably in red.

I was tempted to buy this one for the shell(note the Mustang in the background)

https://www.ebay.com/itm/1955-Ford-Thunderbird/392250561796?hash=item5b53f49504:g:GyMAAOSw3qVcaFeS

and this one for the motor

https://www.ebay.com/itm/1956-Ford-Thunderbird/222944574950?hash=item33e8883de6:g:XCQAAOSwU8xa33Pj

Steve, so what's stopping you? It's only money!! I know, yeah but!!!

LoL thats whats stopping me...Money. Then theres getting the 2 cars in one place and relying on someone to transfer the bits from the donor car to the shell. Then importing it into the UK. When a car wont start with RORO shipping the dock workers stick the forks from the forklift truck under the back end and lift & push the car off the ship which causes damage to the underside. My old gas tank from my 71 had a pair of dents that matched a forklift trucks forks. If i focus on the 71 it will get finished but if i had 2 cars to work on i may get disheartened by lack of progress

 

[Fabrice]

[the only models that would support a profit on a full restoration are the '71 Boss 351, or any '71 models with the 429 CJ or 429 SCJ (including Mach 1, convertible, etc.). ]

Even that is questionable. They do not go for the price you saw a decade ago. At 40-50k, they stay for months for sale here in Europe. If you find one for bellow market, just in need of a little "wheeler dealer" massage and have the luxury to be able to sit on your investment and wait long enough, yes. May be.

If it's for the hobby as the others said, you will get lots of satisfaction out of it. I know I do and learn tons in the process. Not to mention you get to meet great people and make good friends. That alone is worth a million.

For the crystal ball estimated value of 25k. Depends how long it will take before you car is done (and how). Right now, likely no.

There are currently lots offered, I would say even more than before. That's no real surprise.

All 7173 are now at an age where to put lipstick on the rust is no longer an option. It's real restoration time or get rid of it.

Just search this site for titles that include the term "parting"...

From what I see and read on this forum. Most restore at their own pace, 5 to 10+ years is very common. If this free claim of 18k figure would be accurate, that's doable per year. In 10 years from now, only the well preserved/restored will be on the market. Likely more expensive.

That is of course expecting a future not too different than today. When it comes to cars & combustion engines, the world is changing fast.

 

[Fabrice]

So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby"

I'm amazed you can even do this accurate estimate. I honestly could not. I just know its "waaay"!

 

[turtle5353]

So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby"

I'm amazed you can even do this accurate estimate. I honestly could not. I just know its "waaay"!

I agree...... My 302 Mach 1  didn't have the original motor or trans in it when I bought it. I haven't built mine to resell. Its for me to run the shit outta!  I probably have more in my 408 C Stroker than the car is worth!! lol!!  :shootself:   But who's counting.

When I do get my other garage built, my car is going to get tore completely down and done from ground up.  I am predicting obscene amounts of time, money and labor being put in it...... but I know I will never recoup that. That's ok. My car will stay with me forever.

I am seeing, twin turbos.... 1000 hp street motor  LOL!!

Roll cage.

4 link

6 speed.

coilovers.

AC

ECT ECT...... list goes on and on.

 

[Mister 4x4]

When your first thought is am i going to make money then your love of the owning the car is questionable. Buy a car because you love that particular car then money won't even be part of the equation. Anyone who loves their hobby gets payback from the shear enjoyment of their hobby

That was my goal from the beginning - I wanted my car to fulfill a lifelong dream of having one of my favorite muscle cars... not to simply spend money, do work, and flip a car so someone else can enjoy my efforts.  That being the case, were I into it for the resale value, I would've lost me arse on a much grander scale than the wanna-be flipper that sold it to me (I got mine for almost half his initial asking price).  His $1400 loss on a $3K asking price is a LOT less of an impact than my investment vs. what I could get for it... unless you quantify it as 'proportionally.'  rofl

Best price on a pristine '71 H-Code Mach 1 hovers in the $25K range... I'm well over $45K just getting my restomod turned back into an actual car again.  I only kept score for insurance purposes - there's no way I expect to see numbers anywhere close to that, were I to ever accept an offer.

 

[7173Vert]

So, mine is the elephant in the room... $100K restoration... could care less what it is worth afterwards, although I know it can bring big $$ at thr right auction. Would I spend this on a '73? No. So, I bought an all original, low mileage H Code 73 vert as my summer driver for $20K... I did my restoration because these are my favorite mustang's... The only other I would own is a B9...

 

[Stanglover]

So to date I have waaay north of 40K US in it, but do I care, no, it's my "baby"

I'm amazed you can even do this accurate estimate. I honestly could not. I just know its "waaay"!

Easy, I have a 2" (50mm) stack of receipts to prove it!